2025 has been a year of volatility and structural shifts. Just when the markets had overcome significant interest rate hikes, the tariff war created another wave of uncertainty. Canada and other nations began diversifying their trading partners to reduce dependence on the United States. Amid this chaos, a few dividend stocks maintained their ground and continued to produce normal returns. Stability amid uncertainty has made them some of the best dividend stocks of 2025.
Source: Getty Images
Best dividend stocks to buy in 2025
Granite REIT
The Canadian real estate market saw a tepid recovery, with some segments recovering faster than others. A few commercial REITs stopped paying dividends, while some retail REITs paid 99% of their funds from operations (FFO) as dividends.
When some REITs barely survived the last four years, Granite REIT (TSX: GRT.UN) thrived. It increased its distribution per share at a compounded annual growth rate (CAGR) of 3% between 2021 and 2025. It even reduced its dividend payout ratio from 75% to 58% of funds from operations (FFO). For 2026, the REIT increased the dividend per share by 4.1% to $3.55.
Granite sustained its growth because of its diversified property portfolio in North America and Europe. The REIT has also diversified its tenant base, with the top 10 tenants accounting for 46.4% of revenue, and its largest tenant, Magna International, accounting for 27% revenue.
The REIT has lower leverage than its peers, which gives it financial flexibility to grow dividends. It continues to develop new properties at a gradual pace that it can absorb, without trapping too much capital in several developing properties.
You can consider buying this dividend stock in 2025 and beyond to build a monthly passive income source that can adjust to inflation.
Telus stock
Telus Corporation (TSX: T) is another resilient dividend stock that has withstood the regulatory change that disrupted the competitive advantage of the telco. The rule to share network infrastructure with competitors diluted the capital investment Telus made in its 5G infrastructure and reduced prices. This rule change led to major restructuring and cost-cutting measures, massive job cuts, and a reduction in capital spending by large telcos to sustain dividends and make sense of the significant debt on their balance sheets.
BCE slashed dividends after funding dividends from its cash reserves for almost four years (2021–2024). Telus also faced some financial stress as its dividend payout ratio crossed its target range of 60–75% of free cash flow (FCF) and reached as high as 81% in 2024. However, the company resorted to selling non-core assets to accelerate debt repayment and reduce interest expense. This increased its FCF and brought the payout ratio down to 75%.
Telus has increased its 2026 quarterly dividend by 4%, showing the company’s resilience and commitment to dividend growth. The company has the cash flow flexibility to sustain dividend growth.
goeasy stock
goeasy (TSX: GSY) stock nosedived 41% after a short-seller report in September questioned the non-prime lender’s accounting rules to calculate credit risk. The lender’s chief financial officer (CFO) resigned in the same month as the short-seller’s report was released. goeasy has denied the claims of the short seller and reported strong lending activity but increased provisions.
Even if the short-seller’s accusations are true, a change in the CFO will set the accounting straight. The management will now be vigilant with its numbers to sustain investor confidence, as that is the single largest asset in non-prime lending.
The dip has created an opportunity to buy the stock for its 4.9% dividend yield. The lender is a regular dividend payer and has been growing dividends at a CAGR of 30% for the last 11 years.
